CalPERS, Divest from DAPL!

The California Public Employees Retirement System (CalPERS), California’s giant pension fund, owns a major chunk of Energy Transfer Partners, the company building the fracked-oil Dakota Access Pipeline through the Standing Rock Sioux sacred lands in North Dakota. As of December 8, CalPERS owns 1,064,034 shares worth $36.8 million. In addition, CalSTRS, the schoolteachers’ retirement fund, owns debt securities (bonds) worth $28.7 million.

California retirees shouldn’t be investing in this pipeline — investing in the destruction of their children's future. The pipeline is intended to carry fracked crude oil from North Dakota’s Bakken shalefields through North and South Dakota, Iowa, and Illinois. In the process of construction, Energy Transfer Partners has already damaged numerous sacred sites and would drill under the Missouri River, the sole drinking water source of the Standing Rock Sioux Tribe. The Army Corps of Engineers denied the permit to drill under the Missouri, but we expect the incoming Trump administration to ram the project through — if investors like CalPERS and CalSTRS keep backing this foolhardy project.

If CalPERS and CalSTRS don’t voluntarily divest, the California legislature will consider a bill, AB20, to require divestiture by 2018. So the smart money is on getting out of a climate-destroying project early.

These pension funds are overseen by boards that include union and public officials, including California Treasurer John Chiang and Controller Betty Yee. They are directly accountable to the people of California and have a responsibility to all people to make ethical and responsible investments.

Showing 35923 reactions

Martin Singer signed
2017-05-23 11:27:38 -0700

Martin Singer

Michael Almon signed
2017-05-22 16:55:52 -0700

Unlike the South African Apartheid divestment alternatives which were sketchy, alternatives to fossil fuels such as solar, wind, batteries, and electric vehicles hold enormous potential for growth. Investments in these technologies will be like water to a flower.

Gerald Paone signed
2017-05-19 14:40:14 -0700

Roberta Tyska signed
2017-05-16 16:06:29 -0700

James Porterfield signed
2017-05-15 17:47:35 -0700

It’s critical, dear friends, that we continue to struggle against the forces unleashed by Thump’s election. I am proud to sign this document and to join with each of you. Fight on!

Peter Franklin Davis Davis signed
2017-05-12 23:54:29 -0700

HEY HI HO STOPGOP-SLOPTRUMPKINOILSLOBCRIMINALITY-Now-TODAY-ASAP !!!

sherry nillissen signed
2017-05-12 15:36:33 -0700

Christina Viljoen signed
2017-05-10 16:18:39 -0700

Josh Keyes signed
2017-05-09 06:18:44 -0700

Josh Keyes

Brian Kujak signed
2017-05-08 23:56:16 -0700

Brian Kujak

Linda Ellis signed
2017-05-07 08:32:49 -0700

Linda Ellis

Roland Knight signed
2017-05-04 16:17:08 -0700

Edward Barry signed
via Edward Barry2017-05-04 06:43:36 -0700

Mary Bissell signed
2017-05-03 18:33:14 -0700

Mary Bissell

Ash Decker signed
2017-05-03 13:14:43 -0700

Ash Decker

Marie Leven signed
2017-05-03 10:48:35 -0700

Why build a pipeline that sends oil from Canada to Louisiana for export ? We need clean energy not dirty oil! And a spill in the Dakotas could pollute the water for the Indian tribes!

Is there no sense of decency anymore or is it make a buck while you can regardless of who suffers?